In an online interview with Fox Business, Naeem Aslam has predicted that Bitcoin’s price is bound to head towards $60,000 and then – $100,000. But first it will break through the previous ATH of $20,000.

Aslam’s earlier forecasts

The host of the interview reminded the audience that earlier, on June 17, the analyst predicted that BTC would surge and break $10,000, putting forward arguments for growth based on financial institutions starting to invest in crypto.

Bitcoin price managed to fulfill the forecast on June 22, setting a new price record in 2019 and showing a total rise over 250 percent since the year began.

The chief analyst pointed out that the major points of focus for the BTC price will now be $20,000 and then on to $50,000. Reaching $20,000 he says, will drive the price on to the further target. Upon breaking $50,000, Bitcoin will be able to leave $100,000 behind.

Bitcoin VS Gold

Aslam also spoke about using Bitcoin for risk hedging and compared BTC (often referred to as ‘digital gold’) to gold. As per him, over the last 60 days, the prices of both assets have been rising exponentially. He stated that the reasons for this is investors losing confidence in the traditional stock market and the current ‘trade war’ between the US and China.

Aslam also claimed that the reputation of Bitcoin has been improving and growing recently, pushing investors to hedge their risks through buying the ‘father crypto’.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Disclaimer: Any financial and market information given on u.today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy